Hashstack Raises $1 Million In Seed Funding Round
Hashstack is thrilled to announce the closing of a $1 million seed funding round, to bring under-collateralized lending to the DeFi retail. Hashstack will use the proceeds to develop the Open Protocol, attract top talent, & nurture the community.
Hashstack renowned investors includes, GHAF Capital Partners, Kane & Rao Group, Moonrock Capital, Nimrod Lehavi, Chainridge Capital, and MarketAcross.
“Bringing under-collateralization to the DeFi is critical to our mission at Hashstack. We are grateful to be backed by some of the smartest money in this ecosystem. The funds raised will be utilized towards talent acquisition, product development & growth.”—Hashstack Finance founder Vinay
Hashstack’s Open Protocol is the only autonomous lending solution in DeFi that enables non-custodial, under-collateralized loans up to 1:3 collateral-to-loan ratio. It means you can borrow up to $300 by providing only $100 as collateral. Of this, you can withdraw $70 (i.e. upto 70% collateral), while utilizing $230 as in-platform trading capital.
“Getting the maximum value out of your assets is essential in any market. Hashstack offers a solution that the market has not really seen before. We backed Vinay and his team at Hashstack with our capital to bring forward these new ideas.”— Kevin Kurian, General Partner at Kane & Rao Group
While the current DeFi lending protocols require over-collateralization, Hashstack is proud to give borrowers a glimpse into the future of DeFi lending. Whether you need to borrow for personal cash needs, leveraged investments in IDOs, or trading capital, Open protocol offers instant under-collateralized loans.
Hashstack integrates with other DeFi solutions such as Pancakeswap to facilitate in-app market swaps and to improve loan utilization. It means the borrowers can swap the borrowed tokens into secondary markets without the need to switch the dApp. Open protocol also bridges assets from other chains such as Polygon, Ethereum and Avalanche C-chain as an expansion of the primary markets.
ABOUT Hashstack Finance
Hashstack Finance is a DeFi platform whose Open protocol aims to disrupt the DeFi lending market by offering under-collateralized loans. It addresses the need of lacking under-collateralized lending avenues for retail cryptocurrency investors by enabling loans at upto 3x collateral to serve the personal financial needs and trading capital requirements. Users can secure under-collateralized loans to avoid having to sell their long-term holdings to meet their short-term cash needs.
